Europe fights plans to give emerging economies bigger say in IMF

France, Germany and the UK have joined forces to fight against plans to reform the International Monetary Fund (IMF) which would give a bigger say to emerging economies such as China, India and Brazil at the expense of European states.

Proposed reforms of the fund – an organization of 185 countries created after the second world war to foster global monetary cooperation – are due to be agreed next month, before the current managing director Rodrigo Rato steps down in October.

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